In microsoft.public.money, Vince wrote:

- quote -

In the case you describe, you will only ever hold cash in the
account. You will only get Interest and not capital gains, interest,
etc. I think the Bank Savings account would be sufficient for that.

- quote -

No.

We'd like to think that the Investment Account, setup with the proper flags
for IRA, Tax Defered, and so on would work and play better with things like
Tax Estimator, Lifetime Planner, the budget tools, FYI Advisor, and maybe
even some reports. This seems to be the case in my experience, but YMMV.

That having been said, if all you are investing in with the IRA money is
MMFs, then there is some overhead and complication associated with the
Investment Account that a savings account (a cash account) would avoid--if
the above were not a consideration. If you could define a Savings account
with the same flags like IRA, then maybe it wouldn't matter. But you can't.

You cannot just change an Investment Account to a Savings Account. You could
create a different account and, carefully and with some restrictions,
complications, and pain--none of which comes to mind in specific examples but
I'm betting will be there--you could migrate transactions from one to the
other.

"Vince" wrote:
- quote -

What is the significant difference between a Savings type account
verse an Investment-IRA type account that involves only cash
contributions?

I am uncertain about which type of account should be used in MNY03
deluxe to record the transactions for an existing traditional IRA
(money market) account that was opened at a local savings bank in
year1999 and closed during year 2006. A once-a-year transfer of funds
(i.e., Transfer Money) from a regular money market account at tax
time was made to the IRA account.

Can an account type be changed without complications at a later time?

Thanks.

Vince
Long Island, NY